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  1. #1
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    Default If your a sahm/dad how much income?

    I'm really curious to know if anyone is OK to tell me.
    If you are a stay at home mum or dad can I ask how much is your household income to be able to do that? Do you live comfortably or stress about money and not have any to save?

    Curious as to how so many people can manage this. We earn good money but taking my wage away would be a massive drop..

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    My DH earns 60k per year. I am a SAHM & receive about 15k per year FTB, for 3 kids. We live comfortably within our means. We only ever had two incomes for about 2 years before kids because of studying, etc - so when we did have two incomes, we saved it all & bought a house, which now helps us out a LOT - because rent and wages always rise, but our mortgage stays the same! (Depending on interest rates). It also means we've never really lived off of teo incomes, because we put all of the second one into savings. We're not materialistic at ALL &believe in our money serving us rather than us serving our money.

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    Thank you! Yeh I suppose we are materialistic which is probably our issue with going down to 1.. We like out "things" and holidays..

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    Under 60k (before tax). That's for a dh and myself and 5 kids at home and regular travel interstate to help our 6th child. 4 kids in 2 different private schools. We have to save for big things but honestly we are ok.
    Last edited by LoveLivesHere; 21-04-2016 at 19:26.

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    Dh gets around 65k per year but about 1-2000 of that is a bonus he gets so we prob live off more like 63k. I was working minimally only getting $80 per week but havent worked for a couple of months now as took early mat leave. We get $394 per fn for two kids FTB. Before we had Kids I worked full-time and I don't fine our money situation has changed. I think the more you have the more you spend. But you just adjust as you go and things change. We bought our house before kids but renovated it while we had kids. We do live regionally so not in a big city.

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    I think I'm going to ask people here for budget advice once I get to be a SAHM. I'm serious, because I don't know how everyone does it and I think I'm going to need some tips! I want to figure it out - there's something I'm missing I think! DH earns between $80-$90k a year, we'll be dropping my wage of $70k and from what I can see, we'll be about $2k a month short, even if we cut down out non-necessities and that leaves absolutely nothing to save. WE'RE DOING IT WRONG.

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    DF earns about $200K which seems like a lot but once tax is taken out ($90K) and child support ($35K) and schools fees ($17K) there is about $60K left. We don't get any FT benefit or private health rebates as DF earns too much. We aren't doing it hard but don't save anything. Sometimes I get a little frustrated that for all that work DF ends up with so little bit there are people much worse off out there and we really shouldn't complain.

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    I'm not going to say how much our income is but I can tell you from experience with dealing with financials and taxes for hundreds of clients every year, that what a family's income is has very little bearing on how comfortably they live. A lot of very high income earners struggle to pay bills and are in a large amount of debt. My point is, it isn't so much about what you earn, it's more important what you spend.

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    Wow you guys are amazing. I don't know how you do it on around 60k..
    When I say what we earn you will probably be like what the!mortgage is $2000 month and car is $500 month. Health insurance $300 month and that's pretty much it.
    We would go down to about $70k on dh wage. Mine is over $100k so a lot to cut back on.. We do save a lot but then it gets spent on things around house. Holidays. Bills mainly. And now Ivf . We would struggle so much if we cut my wage off but I'm super hopeful we will be able to when next baby arrives..

    Keep it coming I'm going to show this to dh to say it's possible

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    Quote Originally Posted by kim85 View Post
    Wow you guys are amazing. I don't know how you do it on around 60k..
    When I say what we earn you will probably be like what the!mortgage is $2000 month and car is $500 month. Health insurance $300 month and that's pretty much it.
    We would go down to about $70k on dh wage. Mine is over $100k so a lot to cut back on.. We do save a lot but then it gets spent on things around house. Holidays. Bills mainly. And now Ivf . We would struggle so much if we cut my wage off but I'm super hopeful we will be able to when next baby arrives..

    Keep it coming I'm going to show this to dh to say it's possible
    I'll try to get around to posting my budget tonight. We dont have PHI, & purchased a modest 6k car outright instead of having a car loan. Our mortgage is our only debt, which helps a lot.

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